When the founder of a cryptocurrency tells you he’s selling everything, that’s should be a clue

Litecoin down again

Cryptocurrencies are generally a touch higher today but two exceptions are IOTA and Litecoin.

The latter is a particularly interesting case as it continues to make a series of lower highs and lower lows follow the Dec 20 revelation from Litecoin founder Charlie Lee that he’s sold all his holdings.

He tries to spin it by saying that it “is conflict of interest for me to hold LTC and tweet about it because I have so much influence.”

Actions clearly speak louder than words and Litecoin has been halved since he bailed.

At the moment, most cryptos are consolidating at lower levels but I get the sense there are a lot more nervous hands out there than people looking to buy. If we head back towards the January lows, it could get ugly very quickly.